2222 trade ideas
ARAMCO: Hammer TimeSo this stock has been very stubborn, but the upwards channel trend is easy to spot. On a day scale, today technically closed with a hammer, which is a good sign. Also, strong buyers support for this stock is keeping it from getting too close to the support line or the 32.2 price for that matter. Not only that, but the tadawul market today showed that buyers aren't letting sellers push the index down. Increased oil prices and the expectation that demand for oil will return should also be positive. I'm bullish on this and on the tadawul index as well, although I expect the slope not to be too high for this stock specifically, it'll take some time for it to build up. Comment or share your ideas, and lets learn together!
Aramco Buy or Sell?Interesting scenario here, i was expecting the price to retest 32 level but its stopped on 32,20 so what do we do now? oil prices going up which is a good sign of recovery in prices also economy is opening up which is positive again.
I see 2 scenarios from here either the price come little down retest 31.95 zone and bounce from here giving us a buy signal or the price and move up from here aggressively without retracing any further. so what the game plan? in both the scenario i think its better to wait till it gives us a buy signal and indicating that the retracement is completed. Lets wait and watch and not to rush and take the trade. Sure i am looking to buy this stock so i am bullish on this one. Happy Trading
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